Ethereum reclaimed the $3,100 level after bouncing from key support, setting up a crucial test at $3,230 resistance. Large whale positions and BlackRock's staked ETH ETF filing have sparked renewed optimism.
Ethereum reclaimed the $3,100 level after a strong bounce from key support zones, setting up a crucial test at the $3,230 resistance barrier. Large whale positions and BlackRock's latest filing for a staked ETH product have sparked renewed optimism across crypto markets.
According to Lennaert Snyder on X, ETH recently wicked into the Fair Value Gap and beautifully reclaimed the $3,000 resistance level. Snyder noted that Ethereum is currently reclaiming $3,100, making a scalp-long on the retest with $3,230 resistance as the target a legitimate strategy. He cautioned that this represents a late and more risky long position.
The second-largest cryptocurrency by market cap faces major resistance again. If traders arrive at $3,230 resistance, Snyder will be looking for shorts after failure or longs after the gain. His analysis suggests that if Ethereum can reclaim $3,230, testing the FVG around $3,400 is the next logical step.
BlackRock Doubles Down with Staked Ethereum ETF Filing
BlackRock has intensified its commitment to Ethereum exposure by filing a new S-1 with the SEC for the iShares Staked Ethereum Trust ETF, which carries the proposed ticker ETHB. As CryptosR_Us reported on X, this would sit beside BlackRock's spot Bitcoin, spot ETH, and BTC income products as the fourth iShares crypto ETF.
The filing represents a strategic approach to investor choice. Some institutions avoid staking yield appearing as income, while others actively hunt for it. BlackRock is packaging both flavors of ETH exposure for traditional finance.
The preliminary prospectus dated December 5 describes a vehicle that will reflect ETH price performance while capturing rewards from staking a portion of its holdings. The trust will issue shares representing fractional beneficial interests in ether assets held in custody.
BlackRock Fund Advisors will serve as trustee, with Coinbase Custody Trust Company safeguarding the ether and BNY Mellon acting as cash custodian and administrator. Every new filing like this pushes crypto deeper into mainstream rails.
Whale Activity Signals Potential Breakout Above $3,300
Big whales have opened significant Ethereum long positions, serving as a major driver of recent price action. Ted Pillows noted on X that ETH held up the $3,000 level and is now moving higher thanks to substantial whale accumulation.
If ETH breaks above the $3,300 to $3,400 level, it will trigger a rally toward the $3,700 to $3,800 zone. Pillows warned that a failure to break above this zone could result in another retest of the $3,000 support area.
Ethereum is currently trading above the 20-day exponential moving average but remains below the 50-day, 100-day, and 200-day EMAs. This signals that broader trend pressure persists despite short-term recovery momentum.
The MACD has crossed upward with green histogram bars expanding, indicating a shift toward early bullish momentum. Support sits near $3,080 and $3,000, while resistance levels cluster at $3,350 to $3,470 where major EMAs converge.
Market observers point to the Relative Strength Index sitting at neutral territory around 46 to 48, suggesting room for upward movement without entering overbought conditions. The balance of power remains positive, indicating buyers maintain control at current levels.
Ethereum has fluctuated between $2,745 and $3,830 throughout late 2024 and early December 2025. The recent bounce from below $3,000 demonstrates renewed buying interest after weeks of consolidation and downward pressure.
Institutional holdings have exceeded $13 billion, while stablecoin transactions on the Ethereum network reached $2.82 trillion in October 2024. These metrics underscore growing dominance in tokenized finance despite short-term price volatility.
The approval of spot Ethereum ETFs in July 2024 facilitated institutional investment and boosted growth prospects. BlackRock's existing iShares Ethereum Trust now holds over $11 billion in assets, reflecting significant institutional appetite for ETH exposure.
If Ethereum holds above $3,050 and maintains momentum, the next target becomes the $3,160 to $3,180 resistance zone. A rejection at the upper band could trigger brief consolidation between $2,980 and $3,100 before another attempt higher.
The convergence of whale accumulation, institutional ETF developments, and technical recovery positions Ethereum at a critical inflection point. Whether bulls can push through the $3,230 barrier will determine if ETH can extend gains toward $3,400 and beyond in coming weeks.
Key Takeaways:
- Ethereum reclaimed $3,100 support with whales opening significant long positions driving price momentum higher
- BlackRock filed for iShares Staked Ethereum Trust ETF (ETHB) offering institutions staking yield exposure
- Breaking $3,230 resistance could trigger rally toward $3,400 with failure risking retest of $3,000 support
#Ethereum #ETH #CryptoNews #BlackRockETF #WhaleActivity
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Ethereum Targets $3,230 With Whale Rally
Ethereum reclaims $3,100 as whales open long positions and BlackRock files for staked ETH ETF. Will ETH break $3,230 resistance to trigger rally toward $3,400?